Thick, rich and widespread REEs are a boon for Meeka’s coming Circle Valley resource
Size does matter in mining, which is why drilling which intersected thick zones of high-grade rare earths mineralisation while expanding the mineralised footprint at Circle Valley is a good thing for Meeka.
Assays returned from 60 infill and extensional holes returned a top intercept of 4m grading 3,084 parts per million (ppm) total rare earth oxides (TREO) within a broader 6m zone at 2,360ppm TREO (23CVAC044).
Notably for Meeka Metals (ASX:MEK), valuable magnet REOs neodymium and praseodymium make up a sizeable 30% of the total clay-hosted REE content in this hole, which is reflective of the consistently high NdPr to TREO ratios observed in the assays returned to date.
This drilling covers an area of about 10km2, which rather neatly expands the REE mineralised area at Circle Valley where previous drilling returned shallow, high-grade REE results of up to 6,894ppm TREO.
And if that wasn’t enough, further growth could be on the cards as assays are still pending for drilling over a further 5km2 area, which could have a significant impact on Circle Valley’s initial REE resource estimate that is on track for delivery in the current quarter.
“Initial results from this program confirm what was evident in the drilling completed during 2022, thick zones of high-grade mineralisation rich in NdPr magnet rare earth elements,” managing director Tim Davidson said.
“Additionally, this drilling significantly expands the footprint of mineralisation in preparation for Mineral Resource estimation.
“While we are awaiting results from a further 32 infill and extensional drill holes, it is apparent the shallow high-grade mineralisation trends northwest and remains open in that direction, providing potential for further growth through drilling.”
REE mineralisation at Circle Valley accumulates within the saprolite clay horizon creating thick, near surface mineralised zones below shallow transported cover.
Drilling has thus far demonstrated that the cover shallows to the northwest which is coincident with the highest-grade mineralisation of 6,894ppm TREO recorded to date.
The consistently high ratios of NdPr to the overall REE mineralisation is also a big plus given the strong demand for the two elements, which are used in the manufacture of permanent magnets that are used in electric vehicle motors and wind turbines.
This article was developed in collaboration with Meeka Metals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.